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Friday, October 23


News

Novogratz says bitcoin is digital gold, not a currency for now

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Novogratz says bitcoin is digital gold, not a currency for now2 min read.06:59 AM IST. Billionaire investor Mike Novogratz is doubling down on a call Bitcoin serves as digital gold. “I don’t think Bitcoin is going to be used as a transactional currency anytime in the next five years," Novogratz, founder and chief executive officer of Galaxy Investment Partners, said in an interview with Bloomberg TV and Radio. “Bitcoin is being used as a store of value." “I don’t think Bitcoin is going to be used as a transactional currency anytime in the next five years," Novogratz, founder and chief executive officer of Galaxy Investment Partners, said in an interview with Bloomberg TV and Radio. “Bitcoin is being used as a store of value." Novogratz forecast that companies including E*Trade Financial, Visa Inc., Mastercard Inc. and American Express Co. will follow suit “within a year" to offer platforms where their merchants will be able to transact in stablecoins and cryptocurrencies. “It’s no longer a debate if crypto is a thing, if Bitcoin is an asset, if the blockchain is going to be part of the financial infrastructure," said Novogratz. “It’s not if, it’s when, and so every single company has to have a plan now."

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Thursday, October 22


News

Digital Gold: PayPal, Square, and the Fed Send Bitcoin Soaring

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Digital Gold: PayPal, Square, and the Fed Send Bitcoin Soaring. "Last week, I reviewed the impact that Square SQ was having on Bitcoin, with its renewed commitment and recent $50 million investment, in this video and article...Why Square is Jamie Dimon's Favorite MistakeThat move by Jack Dorsey & Co. put a little more kick in Bitcoin's step as it was already testing and bouncing off of the $10,000 breakout level from July.And the move by PayPal kicked in the Falcon booster rockets on the Starship Bitcoin as it soared above the August high-close of $12,300 and flirted with levels near $13,000 not seen since the summer of 2019, up over $1,000 or 8%+.Why PayPal Matters Even Without an Investment StakeAs far as I can tell, PayPal did not disclose an investment stake similar to Square's announcement. But the company saying that it "signaled its plans to significantly increase cryptocurrency's utility by making it available as a funding source for purchases at its 26 million merchants worldwide," was enough to light the bonfire.This is significant because of PayPal's broad global reach with $222 billion in payments volume processing in the second quarter among 346 million active accounts.And according to Reuters, "PayPal hopes the service will encourage global use of virtual coins and prepare its network for new digital currencies that may be developed by central banks and corporations, President and Chief Executive Dan Schulman said in an interview. "Even the Fed Wants a Digital Dollar?On August 13, Forbes crypto and blockchain contributor Jason Brett described that day's presentation by Federal Reserve Governor Lael Brainard which "provided a broad description of the Fed’s ongoing research and plans in the potential development of a U.S. central bank digital currency (CBDC), also described in the U.S. as a Digital Dollar. Of course, I didn't see the Fed remaining dovish for possibly another five years when I wrote Why Gold is Headed to Zero -- And What You Should Buy Instead.But I'm okay being wrong about that as long as I'm right about the equities -- Tech like NVIDIA NVDA and Biotech like CRISPR Therapeutics -- being worth more than the SPDR Gold Shares ETF GLD in the long run.And I'm fascinated by the analysis and conviction of the crypto bulls like Novogratz and Dave Bartosiak, who runs the Blockchain Innovators portfolio.

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Wednesday, October 21


News

Bitcoin Rallies Above $13K Less Than 24 Hours After Breaking 2020 Highs

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Bitcoin Rallies Above $13K Less Than 24 Hours After Breaking 2020 Highs. Bitcoin (BTC) has risen above $13,000 in less than 24 hours after breaking the $12,000 level on news that PayPal will support cryptocurrencies on its platform. ET) by press time, representing a 8.7% gains in the past 24 hours, according to CoinDesk’s Bitcoin Price Index (BPI). The oldest cryptocurrency has continued its price rally after payment giant PayPal announced that it will allow its users to buy, sell and hold cryptocurrencies.

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News

What a Second Trump Term Would Mean for Bitcoin - Decrypt

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The 45th President of the United States, Donald J Trump, has used Twitter to vent about a great many things over the course of his nearly four years in office—and yes, that includes Bitcoin. Still, Trump tweeting “I am not a fan of Bitcoin” in July 2019 could have been viewed as setting the tone for significant US regulation and scrutiny of crypto assets. Arguably, however, that isn’t what has happened. While Trump himself may have a personal antipathy towards Bitcoin and other cryptocurrencies, the Trump administration has taken a broadly pragmatic stance towards crypto. When approached by Decrypt for an official crypto platform, the Trump campaign—like that of his Democratic rival, Joe Biden—did not respond. It’s true that as Trump’s first term progressed, we have seen a greater focus on cryptocurrency from government agencies—including increased IRS scrutiny towards taxpayers reporting crypto holdings, action from the SEC cracking down on what it sees as illegal securities offerings in the form of initial coin offerings (ICOs), and multiple agencies stepping up their pursuit of crypto-tracing tools. However, cryptocurrency has grown dramatically during Trump’s time in office, from a market cap of just over $17 billion when he took office in 2017 to nearly $359 billion today, according to CoinMarketCap.

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News

Bitcoin surge nears $12,000 as fundamental, technical signs clash

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Bitcoin surge nears $12,000 as fundamental, technical signs clash. A Bitcoin surge above $12,160 could signal another $1,000 or more in near-term upside. The flagship cryptocurrency saw its price surge nearly 4.5% to trade at a high of $11,995 on Oct. 20. While many investors are seeing profits, different metrics show that this Bitcoin surge may not be done. Technical analysis: BTC isn’t out of the woods yet. Although the fundamentals show that a bigger Bitcoin surge could be imminent, the technicals add importance to the $12,160 resistance level.

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Bitcoin rises to year's high as Paypal, Mode Global add to positive news flow

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Bitcoin rises to year's high as Paypal, Mode Global add to positive news flow. Bitcoin rose to its highest point in a year as PayPal said it will enable cryptocurrencies on its platform and UK fintech Mode Global Holdings PLC (LON:MODE) announced that it was investing heavily in the cryptocurrency. Mode, the bitcoin banking app that raised £7.5mln as it floated in London earlier this month, said it has allocated up to 10% of its cash reserves to purchase bitcoin and adopt it as a treasury reserve asset. Following US banks receiving the regulatory green light to provide custody storage services for bitcoin and other cryptocurrencies in the summer, recent months have seen a US$50mln investment by US payment group Square inc (NYSE:SQ) as it believes that cryptocurrency “provides a way for the world to participate in a global monetary system”, and a $425mln investment by business intelligence firm Microstrategy Inc (NASDAQ:MSTR).

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Bitcoin extends gains after PayPal move to accept cryptocurrencies

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Bitcoin extends gains after PayPal move to accept cryptocurrencies. {{monthName}} {{day}}, {{year}}, {{hour12}}:{{minuteTwoDigit}} {{dayPeriod}}. LONDON (Reuters) - Bitcoin extended its gains on Wednesday after PayPal Holdings Inc said it will allow customers to buy, sell and hold cryptocurrencies. It was last up 3.2% at $12,305, just below its highest this year.

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Bitcoin Price Hits Two-Month High Above $12,300

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Bitcoin’s price reached a two-month high on Wednesday, taking month-to-date gain to over 13%. The top cryptocurrency by market value rose to a high of $12,379 soon before press time – the highest level since Aug. 18, according to CoinDesk’s Bitcoin Price Index. “The bullish momentum is certainly picking up with support from large corporations buying into the market,” Wayne Chen, CEO, and director of Interlapse Technologies told CoinDesk in a LinkedIn chat. Firms like Square, MicroStrategy, and Stone Ridge have recently disclosed bitcoin treasury investments, validating the cryptocurrency’s appeal as a store-of-value asset.

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Bitcoin and Cryptocurrency Wallets Market SWOT Analysis, by Key Players: BitGo, Coinbase, Velona, Electrum, B2Bx, DOBI Exchange, Binance, Ledger, Trezor, Mycelium, Exodus, BitLox, KeepKey, – PRnews Leader

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Bitcoin and Cryptocurrency Wallets Market SWOT Analysis, by Key Players: BitGo, Coinbase, Velona, Electrum, B2Bx, DOBI Exchange, Binance, Ledger, Trezor, Mycelium, Exodus, BitLox, KeepKey. In the recent years, the Bitcoin and Cryptocurrency Wallets’ market has seen growth to USD XXX million and is predicted to grow more during the coming year. With the help of this report knowledge about the market and its key players can be gained for those wanting to enter the market. Anyone thinking of investing in a new business, needs to have a look at the Bitcoin and Cryptocurrency Wallets’ market report to judge and understand the business dynamics at the same time get competitor analysis.

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Tuesday, October 20


News

Blockchain Bites: Bitcoin and the BSA, Signature Deposit Growth, Darknet Crypto Donors

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Blockchain Bites: Bitcoin and the BSA, Signature Deposit Growth, Darknet Crypto Donors. Ironic outcomeUniswap’s first voting process demonstrated the need to overhaul its governance system, Dharma CEO Nadav Hollander has said, following a “disappointing outcome.” The vote was over reducing the token threshold required to make and pass proposals on the protocol. Members of the hacking group Darkside attempted to give bitcoin donations to two non-profits, Children International and The Water Project. “Crypto firms are often a rich source of low-cost deposits for the few banks that openly serve the sector. As such, analysts have paid close attention to deposit growth at Signature, Silvergate Bank and Metropolitan Commercial Bank,” CoinDesk’s Nathan DiCamillo reports.

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